How Are Your Clients Measuring You?

We keep hearing about living in “unprecedented times.” It’s become a catch phrase overnight as we adjust to a new environment. But it’s an accurate statement. It’s a challenge to stay connected from your home. And right now it’s more important than ever.

Whether your clients realize it or not, your value to them has never been greater. Now is the time to exceed expectations. But first, you need to understand how your clients are measuring you. The main thing we don’t want is to be measured in a down market by the same parameters used in an up market.

In an up market, it’s easy to define bad. We have a certain rate of return, we see our assets go up, and we see a modest decrease in terms of the fee structure. That difference measures our value as we build the portfolio.

In a down market, and especially in today’s climate, we bring so much more value than just performance. We need to redefine how we are measured to include:

Timely reviews

Explanation of type of holdings

Types of retirement solutions, and how they’ve performed

But our most valuable service right now comes from calming fears and anxiety. From previous down markets we’ve learned that we can’t afford to let someone else define our value. We must define it for them.

Think about the last major market correction from 10-12 years ago. How has your client’s behavior changed? If it hasn’t changed, we need to provide enough value now to encourage a change going forward. And to do that, we need to evaluate our business model, our education and how we, and our clients, view their retirement income outcome.

Let’s use a new measuring stick when it comes to how we are measured by our clients. We offer more than just a financial portfolio. We offer clients the opportunity to be active participants in their finances, with an expert guide to help them stay the course.

Transformational Tactic:

Provide value by offering reassurance and education. Redefine how you are measured during uncertain times.